Fixed Income Style Quote

These pages cover submitting and managing passive (resting) liquidity using the Fixed Income Style Quote model. Only implement this section if your system cannot send NewOrderSingle (35=D). This is unrelated to the RFO workflow.

If you have the flexibility, OpenYield recommends using the Equity Style Order model instead — it is simpler to implement and maps directly to OpenYield's internal model.

Message	MsgType	Description
Quote	35=S	Submit a new resting quote (passive liquidity).
Quote Cancel	35=Z	Cancel an existing quote.
Execution Report	35=8	OpenYield acknowledgement for quote accepts and cancels.

Resting quotes are redistributed on the Order Book feed for other participants to trade against. If a quote crosses the market at submission, OpenYield treats it as a taker order and fills it immediately.